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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (25792)	8/31/1998 1:10:00 PM
From: Philipp	Read Replies (1) \| Respond to of 94695

Jim: Well I won't rule out a melt down, but in no way will it or can it be compared to 29, the Markets are far changed from then, half of them didn't even exist. Nor did nuclear bombs. Nuclear bombs?? So, you think it will be worse? Yes, these things never repeat exactly. I also don't expect a 29 (-90%) or Japan 90s (-65 %) crash. But the first leg of the 29 crash looks rather similar to what we see now (if you squint a bit). The pattern of failed rallies that end in increasingly larger declines. The situation is certainly much more serious than in 87! Stock markets more overvalued, the big world picture much more gloomy. Markets have changed, certainly, they can fall much more rapidly now in a fairly orderly way. I don't think the meltdown will occur today. I suspect that we will end up well above 1000 SPX. Good trading, Phil